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14-Aug2013

Guar Seed futures gain momentum on speculative buying

Guar Seed futures gained momentum after yesterday's sell off traders preferred to build up new positions at existing lower levels which resulted in pushing up Guar Seed prices. Pick-up in industrial demand against restricted supply in physical markets further boosted the trading sentiments. However, the prices could fall again on expectations of bumper production due to higher area under cultivation and conducive weather.

The contract for October delivery was trading at Rs 4151.00/100 KG, up by 1.19% or Rs 49.00 from its previous closing of Rs 4102.00/100 KG. The open interest of the contract stood at 2768.00 lots.

The contract for November delivery was trading at Rs 4115.00/100 KG, up by 0.37% or Rs 15.00 from its previous closing of Rs 4100.00/100 KG. The open interest of the contract stood at 2226.00 lots on MCX


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